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Pensions to be increased by almost 400 soms in Kyrgyzstan

Pensions will be increased by almost 400 soms on average in Kyrgyzstan. Chairman of the Social Fund, Meder Irsaliev, announced at a press conference.

According to him, on September 11, the Government adopted a decree on indexation of the basic and insurance parts of pensions.

According to him, the basic part will be increased by 100 soms, only if the total amount of pension is lower than the pensioner’s subsistence minimum for the previous year (4,286.7 soms). The amount of the insurance part is indexed by a coefficient of 1.07 (but not less than 200 soms for those who receive pensions below the subsistence minimum, and at least 360 — if the pension is above the subsistence minimum).

As a result, pensions that are below the subsistence level will grow by at least 300 soms, and by 360 soms — if pension is above the subsistence minimum.

«Based on the results of recalculation, the size of pensions will be increased by 397 soms. The average size of pension will reach 6,061 soms. It is 5,800 soms now,» he said.

Meder Irsaliev added that there are 689,000 pensioners in Kyrgyzstan now, 38 percent of them (261,800) receive pension below the subsistence minimum.

Pensions will be increased from October 1 in Kyrgyzstan.